Buy cETH
What is cETH?
cETH is a token that represents a stake in the Ether-based lending pool on Compound Finance, a decentralized finance (DeFi) project. It enables users to lend Ether (ETH) on the platform and earn interest in the form of cETH. As an ERC-20 fungible token, cETH can be freely traded and represents investment ownership rights within the Compound protocol.
How does cETH work?
cETH operates on the Ethereum blockchain, using smart contracts to facilitate the lending and borrowing of Ether. When users supply ETH to the Compound protocol, they receive cETH tokens in return. These tokens represent the user's share in the lending pool and accrue interest over time. The interest is reflected in the increasing exchange rate of cETH to ETH, allowing users to earn returns on their deposited Ether. Users can redeem their cETH at any time to retrieve their underlying ETH, along with any accrued interest.
What are the potential use cases for cETH?
- Decentralized Lending and Borrowing: cETH is used within the Compound platform to facilitate Ether lending and borrowing in a decentralised manner.
- Interest Earning: Holders of cETH earn interest on their Ether holdings, making it a tool for passive income through interest accumulation.
- Liquidity Provision: cETH can be integrated into various DeFi protocols as a form of liquidity, aiding in the stability and operation of these platforms.
- Stable Yield Generation: Investors, including institutional participants, can use cETH to generate stable yields on their investments in the DeFi ecosystem.
What is the history of cETH?
cETH was introduced as part of the Compound protocol, developed by Compound Labs, which was founded by Robert Leshner in 2017. This development aimed to democratise access to credit services through blockchain and DeFi technologies. cETH became available around mid-2020, enabling users to lend Ether on the Compound platform and earn interest. Since its inception, cETH has grown significantly, becoming a key asset in the DeFi space with broad integration across various DeFi applications and protocols.
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Frequently Asked Questions (FAQs)
What is the current price of cETH (CETH)?
The cETH price is $103.04 AUD, representing a -3.92% from the day prior.
Where is the best place to buy cETH (CETH) in Australia?
The best place to buy cETH (CETH) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell cETH (CETH) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of cETH (CETH)?
The trading volume of cETH (CETH) is $735 AUD in the last 24hrs, representing a -3.92% from the day prior.
How can I buy cETH (CETH)?
cETH (CETH) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of cETH (CETH)?
The current market cap of cETH (CETH) is $322.4M AUD.
Can I convert cETH (CETH) to cash?
Yes - With Coinstash you can convert your cETH (CETH) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many cETH (CETH) are there?
The current circulating supply of cETH (CETH) is 3.1M.
Is Coinstash a safe place to buy cETH (CETH) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling cETH (CETH) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.